By Licia Leslie
September 11, 2024
Hi Shoppers,
The Van Eck Gold Miners ETF (Ticker: GDX) has the Harami candlestick pattern with confirmation:
And it is bouncing off the support of the red median line.
Once it clears $37.26, the 50 day moving average, I think it will trade up to $38.81.
Looking at the calls, I like Sep20 expiration:
The 37.50 calls will double with the stock up at $38.81.
Use a 30% stop loss on what you paid for the calls.
Trade Review
SPX gap opened above my resistance at $5562 and that is now new support.
Thank You for Reading … See You Next Tuesday,
Licia Leslie
Licia Leslie
Head of Technical Analysis
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